Section 9704 - Security interest unperfected before effective dateA security interest which is enforceable immediately before Revised Division 9 takes effect but which would be subordinate to the rights of a person that becomes a lien creditor at that time:
(1) Remains an enforceable security interest for one year after Revised Division 9 takes effect.(2) Remains enforceable thereafter if the security interest becomes enforceable under section 9203 of Revised Division 9 (relating to attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites) when Revised Division 9 takes effect or within one year thereafter.(3) Becomes perfected: (i) without further action when Revised Division 9 takes effect if the applicable requirements for perfection under Revised Division 9 are satisfied before or at that time; or(ii) when the applicable requirements for perfection are satisfied if the requirements are satisfied after that time.2001, June 8, P.L. 123, No. 18, § 16, effective 7/1/2001.